Textile trader Sai Silks Limited, reputed women’s, kids and gents wear seller under the Kalamandir brand, has announced an initial public offer of Rs. 89 crore, becoming the first saree retailer to tap the capital market.
The IPO, with a price band of Rs. 70 to 75 per share, will open on February 11 and close on February 13.
The company has 15 retail outlets across Hyderabad, Guntur, Vijayawada, Bangalore, Kanchipuram and other places, with cumulative spread of over 1.29 lakh sq feet.
Sai Silks Limited becomes the first saree retailer to tap the capital market